NASDAQ$ATNI

ATN International Inc · Q1 2020 earnings

Q1 2020 earnings · · Investor relations

Briefing

ATN International reported improved results driven by US Telecom business recovery and positive performance of International Telecom operations.

ATN International reported a 7% increase in consolidated revenues and a 31% growth in EBITDA for the first quarter of 2020. The recovery of the US Telecom business and the continued positive performance of International Telecom operations contributed to significant consolidated operating income growth.

  • Consolidated revenues increased by 7% year-over-year to $110.9 million.
  • Operating income increased by $5.2 million to $7.3 million.
  • EBITDA increased by 31% to $29.8 million.
  • Net loss attributable to ATN's stockholders was $1.0 million, or $0.06 per share.

Headline financials

Total Revenue

$111M

Previous: $103M+7.4%
EPS (adj)

-$0.06

Previous: -$0.10+40.0%
Capital Expenditures

-$14.1M

Previous: -$17.8M+20.8%
Free Cash Flow

-$11.7M

Previous: -$17M+31.4%
Net Income

$2.38M

Previous: $735K+223.3%
Operating Income

$7.3M

Previous: $2.11M+245.3%
Gross Profit

$64.3M

Previous: $103M-37.8%
Cash & Equivalents

$146M

Previous: $171M-14.9%
Total Assets

$1.11B

Previous: $1.16B-4.7%
Stock-Based Comp

$1.16M

Previous: $1.3M-10.8%

Revenue & EPS history

ATN · Revenue · Quarterly

$111M

Q1 2020+7.4%vs Q1 2019
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

ATN · $110M total across 2 segments · Q1 2020

  • International Telecom
    $82.3M+2.0%
  • US Telecom
    $27.3M+27.0%

Forward guidance

Due to the uncertainty surrounding the global economic impact of the coronavirus pandemic, projecting the impact on the businesses in the coming periods is difficult. Revenue and profit margins for certain services and in certain markets are expected to decline during this crisis.

Tailwinds

  • ATN's strong balance sheet provides significant financial flexibility.
  • The company is well-positioned to weather the storm and build brand equity by doing right by its customers and partners during this crisis.
  • Increased teleworking and social distancing are likely to accelerate a shift to heavy telecom and data reliant activity, which may provide long-term growth opportunities.
  • The changed environment has allowed faster gains in digital customer engagements such as mobile payments and paperless billing.
  • Anticipated improved operating efficiencies and capabilities will better position businesses post-crisis.

Headwinds

  • The coronavirus pandemic will change future business and social behaviors.
  • Revenue and profit margins for certain services and in certain markets are expected to decline during this crisis.
  • Many of the markets served rely on tourism as a major source of economic activity, and that sector of the economy may take longer to recover fully.
  • There is uncertainty around the depth and duration of the global economic impact of the coronavirus pandemic.
  • The overall timing of the network build schedule has been delayed.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 19 quarterly earnings reports · overlaid with Q1 2020

Historical avgQ1 2020

-1.3%

Avg return

Earnings day

-3.6%

Avg return

5 days after

-1.0%

Avg return

30 days after

48%

31 / 65 earnings

Positive

+20.8%

Q2 2018

Best reaction

-31.7%

Q1 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+0.5%-0.9%+1.7%
Q4 2025-16.7%-18.0%-8.5%
Q3 2025-3.1%-6.7%+37.6%
Q1 2025-15.4%-6.3%-19.7%
Q4 2024+6.8%+20.7%+9.6%
Q3 2024-27.7%-35.0%-36.2%
Q2 2024+14.6%+18.9%+17.9%
Q1 2024-31.7%-30.0%-16.7%
Q4 2023-22.0%-1.9%-15.9%
Q3 2023-9.9%-12.9%-7.7%
Q2 2023-1.0%-1.1%-1.6%
Q1 2023-2.9%-5.8%-1.4%
Q4 2022-13.4%-11.5%-17.9%
Q3 2022+4.2%+11.7%+21.6%
Q2 2022-5.1%+0.4%+5.7%
Q1 2022+1.1%-1.8%+10.2%
Q4 2021+1.0%-2.9%+14.6%
Q3 2021-7.1%-5.0%-6.8%
Q2 2021-1.0%-2.8%+3.3%
Q1 2021-1.0%-4.2%-0.8%
Q4 2020-1.7%+6.1%+2.9%
Q3 2020+2.9%+5.7%+14.0%
Q2 2020+4.1%-1.6%+3.8%
Q1 2020-11.8%-20.4%-15.7%
Q4 2019+1.2%-2.2%-6.5%
Q3 2019+10.4%+10.0%-3.0%
Q2 2019+0.4%-1.4%-9.1%
Q1 2019+3.8%+0.7%+1.4%
Q4 2018-23.1%-26.8%-28.6%
Q3 2018+10.6%+10.8%+13.8%
Q2 2018+20.8%+17.5%+36.3%
Q1 2018-7.6%-20.0%-20.7%
Q4 2017+7.3%+12.3%+7.2%
Q3 2017+2.1%-1.4%+12.7%
Q2 2017-9.1%-10.8%-9.1%
Q1 2017-0.7%-6.1%-11.0%
Q4 2016-6.2%-10.0%-11.4%
Q3 2016+1.8%+2.6%+12.5%
Q2 2016-7.6%-9.3%-18.6%
Q1 2016-0.5%
Q4 2015-6.3%
Q3 2015-7.6%
Q2 2015-0.6%
Q1 2015-3.3%
Q4 2014+4.3%
Q3 2014+2.0%
Q2 2014+8.9%
Q1 2014-4.1%
Q4 2013-0.6%
Q3 2013-2.5%
Q2 2013-3.3%
Q1 2013+1.9%
Q4 2012+8.1%
Q3 2012+6.4%
Q2 2012+12.9%
Q1 2011-5.6%
Q1 2012+18.3%
Q4 2011+1.1%
Q4 2009+1.1%
Q3 2011-4.6%
Q3 2010-4.6%
Q4 2010+6.7%
Q2 2010+6.7%
Q2 2011+6.7%
Q1 2010+2.7%

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